Upsurge in demand lifts jeera futures by 3.43%

NEW DELHI: Jeera prices climbed 3.43 per cent to Rs 18,530 per quintal in futures trading today as traders raised their bets on the back of uptick in domestic as well as exports demand in the spot market.

Besides, tight stocks position on restricted supplies from producing regions supported the upside.

At the National Commodity and Derivatives Exchange, jeera for delivery in far-month August shot up by Rs 615, or 3.43 per cent to Rs 18,530 per quintal with an open interest of 18,399 lots.

Similarly, the spice for delivery in July traded higher by Rs 570, or 3.24 per cent to Rs 18,160 per quintal in 6,120 lots.

Analysts said raising of bets by participants, triggered by pick-up in domestic spot as well as exports demand in the spot market against restricted supplies from producing belts mainly pushed up jeera prices at futures trade.